Have we hit the panic button over the Iran war?

After US President Donald Trump walked back his threats to wipe Iran off the map, there’s now a two-week ceasefire in place.

Hours before this kicked in, the Singapore Government announced in Parliament on April 7 support measures to help cushion the cost increases resulting from the Middle East conflict.

These include disbursing $500 in CDC vouchers half a year early and a $200 increase in the Cost-of-Living Special Payment.

Six weeks into this war, the question now is: Will things get better from here, or are we just having a moment of respite before the knock-on effects continue to worsen?

In this podcast episode, I chat with economists Danny Quah, Li Ka Shing Professor in Economics at the Lee Kuan Yew School of Public Policy, and Sheana Yue, a senior economist at global economic advisory firm Oxford Economics, about what else we should brace ourselves for.

Highlights (click/tap above):

4:12 Iran war uncertainty’s impact on Singapore

10:53 Singapore’s 1973 oil crisis lessons

17:21 Better placed to handle this war?

20:12 “We have a bit of breathing space.”

23:30 Do we need more handouts?

29:21 Is Singapore headed for a recession?

32:01 Stagflation a worry for all countries

35:55 Should we throw out the old diplomacy rulebook?

43:39 The worst-case Iran war scenario

Host: Natasha Ann Zachariah (natashaz@sph.com.sg)

Read Natasha’s articles: https://str.sg/iSXm